Re: {LONGTERMINVESTORS} News & Misc. items - Thread

 Market Outlook:

• Indian markets are likely to open with gains and trade with a positive bias today.
• From Intraday perspective, Nifty likely to witness buying interest above 7580 for potential upside till 7610 / 7675 while selling pressure to emerge below 7490 for downside till 7400.

News Flow:

• Marico Ltd has reported a growth of 23.7% in its consolidated net profit after taxes (PAT) at Rs 197.81 crore for the third quarter ended December 31, 2015. The consolidated net profit of the company stood at Rs 159.88 crore during the same period a year ago.
• IDFC Ltd has reported a fall of 58.2% in its consolidated net profit after taxes (PAT) at Rs 176.18 crore for the third quarter ended December 31, 2015. The consolidated net profit of the company stood at Rs 421.6 crore during the same period a year ago.
• Larsen & Toubro Ltd has reported a growth of 19.4 % in its consolidated net profit after taxes (PAT) at Rs 1,034.8 crore for the third quarter ended December 31, 2015.
• TVS Motor Company Ltd has reported an increase of 19.4% in its standalone net profit after taxes (PAT) at Rs 107.7 crore for the third quarter ended December 31, 2015. The standalone PAT of the company stood at Rs 90.18 crore during the same period a year ago.

Stock Idea:

Recommendation: Cipla Ltd

Suggested Range: Buy around INR 585

Target: INR 603 / 609

Holding Period: upto 5 days

Stoploss: INR 572

Technical Rationale: Cipla has been in a short term corrective mode. It has halted the correction around 580 levels which is the previous swing low. In Friday's trading session it has witnessed buying interest from that crucial support. The daily Stochastics oscillator is witnessing signs of recovery from oversold territory indicating a pullback is likely in the short term. We expect the stock to continue the positive momentum and reach levels of 603 which is the previous swing high and above that 609 which is the 20 day simple moving average.

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